The ‘Global Azimuth Thrusters Market Size, Share, Trends, Growth and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global azimuth thrusters market, assessing the market on the basis of its segments like types, drive systems, applications, and major regions.
Azimuth Thrusters Market Size, Share, Price, Growth, Trends, Industry Report, Key Players, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 1.5%
Azimuth thrusters increase the manoeuvrability of ships, reduce their maintenance costs, and surge their space and energy efficiency. They combine propeller and rudder propulsion into one unit, offer enhanced flexibility, and provide positioning and navigation to keep a vessel on a predetermined route or station.
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The azimuth thrusters market is being propelled by the rising demand for permanent magnet-driven azimuth thrusters solutions boasting various benefits, including low maintenance, high efficiency, sustainability, and reduced noise generation.
In the coming years, technological advancements and innovations are expected to boost the development of innovative permanent magnet-driven azimuth thrusters with rapid response times, robust design, zero carbon footprint, and increased operational efficiency.
Azimuth Thrusters Industry Definition and Major Segments
Azimuth thrusters are advanced propulsion engines that provide steering and thrust to a vessel. They are widely used in applications, such as ship docking, dynamic positioning, and ship escort, among others, that require high manoeuvrability. They can be retractable in both horizontal and vertical directions and find usage in offshore support vessels and naval ships, among others.
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The market, on the basis of type, is categorised into:
- Less than 1500KW
- More than 3500KW
Based on drive system, the market is divided into:
- Diesel Drive System
- Electric Drive System
- Hydraulic Drive System
The various applications of azimuth thrusters are:
- Naval Ships
- Recreational Boats
- Offshore Support Vessel
- Ferries and Freighter
The major regional markets of azimuth thrusters include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
As operators are attempting to lower greenhouse gas emissions and fuel consumption of vessels, there is a growing preference for azimuth thrusters that can optimise gear cases, adopt high-performance propeller ducts, reduce noise, facilitate easy maintenance, and improve shipboard working environments.
Some of the key azimuth market trends include the surging demand for efficient propulsion systems and the growing use of such engines as alternatives to conventional rudder steering and propulsion systems.
Dynamic positioning systems are increasingly added to azimuth thrusters to navigate a more precise course or keep a vessel on the station with enhanced precision. Moreover, key players are launching innovative azimuth thrusters that are easy to install and maintain and compact for use in naval vessel designs, fishing, and offshore wind activities where there is limited onboard space.
Key Market Players
The major players in the azimuth thrusters market report are Kongsberg Gruppen ASA, ABB Ltd., SCHOTTEL Group, Brunvoll AS, ZF Friedrichshafen AG, and Caterpillar Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
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